Empire Building 101
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Be very interesting how much cash on hand? I believe we have huge issues come as money comes due in 24, 25, and 26. Is bankruptcy a possibilty or more dilution? With the political landscape the way it is I see very little hope any time soon. Both sides are brain dead and clueless as far as getting anything done for the people.
Should have waited. New lows are coming
With continued free shares for all management regardless of performance quarterly is their any reason to hold shares? Serious replies only please
PS With these preferred share dividends and absolutely no growth despite all these dispensaries not to mention fixed expenses increasing this is only dead money.
PSS For the true longs the only hope is these fools is take it private. We have no say and no vote. Purely insider greed.
Less dispensaries as a whole verses last month. Obviously something reeks to high heaven as nothing has helped this trend. More dispensaries for shwz equals more fixed expenses. I assumed with the guy from slgwf Chris we would have a better q from last q but obviously much worse. This Crack management is hyped with horrible results. The more high priced salaries and free shares it is no wonder most within the industry have doubled from the lows where any day new lows are coming. What is so bothersome is what incentives does management have to meet to get these? New store openings? Show up for work? You would think the matrix would include increase sales for stores opened for a year is a must. Top management must go as this is now become nothing more than a self serving click management imo. Next thing expect canceling options warrants out the money and just reissue them with lower prices and much more. I finally opened my eyes to reality. Wonder how these geniuses paint the rosey future. Nothing but a Jonny come lately. Only thing I see is a bunch of debt coming due in 2025. Plus lots of dilution.
Any chance after watch some on both sides agree to a temporary budget deal extention that we see an agreement with safe banking?
What is wendesday? The vote?
Definitely a red flag as without these new dispensaries it would be worse. I've noticed this trend for awhile. Management no longer crowing their achievements and basically on mute. Is their really bigger things happening behind the scenes or are we really just another Johnny come lately? Inquiring minds want to know. We are pretty much the worst performing stock in the industry. So many questions.
Insider buying without clusters of multiple buys by numerous insiders is meaningless look no further than Dye's previous buying last year. These guys suck period and continue to reward themselves with free shares and other perks from goals that are based on store counts etc and nothing to do with improved financials.
All acquisitions were to be accretive guess that ain't working out either. The answer was to add multiple dispensaries and lower the sales per store hugely. Time for shareholders to wake up and smell the roses.
Next Q reporting will show some progress on revenues as they are easier comparable with many more stores y/y. However increased expenses is a given. Bottom line not a clue.
Another concern I have is management taking this private. Not to mention being acquired on the cheap and then given cushy jobs. Imo, something has changed but really can't put my finger on.
Definitely a bleeder...not lol but crying out load. Still have well over 100k
Right industry wrong horse.
Now if Dye could help support the buck level we could go higher and possibly use stock for further acquisitions.
Lazur n IPS you both had very thought provoking posts yesterday on reasons to buy and not to buy. You both had very convincing arguments and just like shortly after the close form 4 buys. Thanks again.
With almost every stock doubling from the lows and we are not this is certainly not a positive. Plus management's on mute definitely not very encouraging. Not to mention management always blowing their horn about such a crackpot team. Why nothing to say?
Still believe with share count virtually in an upward spiral r/s is inevitable. So disappointing to even watch. Virtually IR is non-existent.
Is this the low Doc? Appreciate your opinion.
Would be nice to see some insider buying. Unfortunately don't see that happening as to many free shares with convertibles and give aways they are already receiving
So is it a buy in your opinion based on what we know? Also what was N.M. sales for Shwz? Thx.
Earnings aren't going be pretty.
I'm still confused! We have the best management team ever assembled Dye steps down and we are left in the dark. Not sure we will see the rosey picture anymore. Did anyone go to the annual meeting?
PS your last sentence said it all.
Totally agree as far as dead money. While I've been buying shares recently this guy really hits the nail on the head and certainly gives reason for a pause.
Plus the silence in management speaks volumes. New Mexico looked very promising in the beginning of legalization but recent uncontrolled dispensaries growing parabolic in a state with 2.1; mil vrs Co. with over 6.1mil and 635 dispensaries who is struggling financially certainly isn't a successful formula.
N.M. really fumbled the ball here. Hopefully they can correct the issues in a very timely fashion. Like yesterday!
Plus Co. sales have continued to plunge month after month. The state was doing $150mil 6 months ago and now $120Mil. Again lack of enforcement. Black market is running amuck and state officials do nothing.
Hope they are revoked and not a temporary suspension with a small fine. If so it would be merely mocking the state with no real repercussions with continued violations.
With that said overhead is going up as fixed costs go up also not to mention head count and incidentals. With revenues not going up is not a recipe for success. Plus additional debt expense.
My hope is wholesale with the new hire can effectively offset the trend in N.M. I like the aggressiveness adding dispensaries but unless a few things change quickly things may not turn out as positive as us longs are expecting. Of course IMO.
You still seem very optimistic. Exactly what are your expectations over the next 12 months?
Any possibility to see some wholesale sales this q in NM?
Dispensary count definitely having an impact with a steady decline in sales with a few hiccups.
Maybe the new hire Chris will help in a way that that isn't visual with retail Dispensary sales.
Pretty bleak assessment. It could be a long wait.
Yes we did. I believe quite a few will close their doors quickly. The survivors should be much healthier in the end
.
With that said I bought another 900 shares at $1.06 Anyone else adding besides me?
Personally I believe something is brewing in these challenging times.
Sure seems very expensive to me. Another $10 million acquisition. Float still ok imo however the o/s is getting well above 200 mil when converted and exercised. Beginning to think this isn't the crackpot management we all thought.
Volume,
Not me. Right or wrong going to continue dollar cost average. I don't believe anything has changed. Hardly doubt anything new from meeting. IMO, more losses in the next few q's as NM will be extremely competitive and margins challenged.
Feels like we are in the twilight zone. WTF?
FWIW,, I'm averaging down. My thought and opinions are just that. I have been very truthful. Been averaging down the last 3 months. While i have said i believe many dispensaries were overpriced in Co. I believe N.M. has been a steal. I love their going deep strategy for both states and believe the 3rd state is coming soon. As far as Buffet I'm a follower and believe buy when their is blood in the street. I've held KO for over 20 yrs. MSI 15 yrs. and many more for 10+ Yrs. My holding period here is for minimum 18+ months and possi
bly years. GLTA.
Not a sheep. Haven't sold a share. Have always said I thought many dispensaries especially in Co. was very expensive. Expressing someone's opinion or thoughts I believe is what a forum is for. Anyone thinking their posts have any influence on the pps is fooling themselves.
The excessive amount paid for several acquisitions in Colorado have always been a concern for me including Starbuds. They paid over $10 Mil per dispensary with incentives for even more.. while many here have been fans of Dye I am not as the monies and earn outs with stock etc. have been excessive imo. While the results have been better than most..
The 64k question will be at what cost of additional dilution. This interest cost alone could crush us if the feds/states don't do something soon to stop or atleast slow down the black market. Anyone who refuses to acknowledge this really does have their head in the sand. I totally agree $30 Mil is extremely excessive and then to think renovation costs. Yep Dye had/has the abilities but very well but currently in position better suited for company st this time.
They truly needed CEO n old CFO to step down which they did and lead the path forward. With that said I still very much appreciate Dye and his vision as without it their would be no company period.
Interesting to see what the end game is here. Definitely more going on than meets the eye. No more bullish posts lately from almost anyone.
Should we run for the hills?
Average down?
I can and will wait. Well thought out with factual info. Again thanks for what you add to this board. In fact thanks to everyone here even when we disagree. It's like family here.
Nice buying interest today.
That is probably good to just keep quiet and be pro business and have a diverse work culture. Nuff said.
Insiders own mostly preferred stock and under IPS only the o/s would receive this if I'm understanding. Once they converted they would get this but the interest would stop. Really mute point as it's not goin happen.
It would be nice. Beneficial probably. More eyes? For sure. The cost would be inconsequential to the potential benefit IMO. The thing to remember is most deals are done with stock included with cash and could potential pay off in spades with less dilution. Certainly would be worth $2,5 Mil with the added buying pressure from currently holders and added exposure.
Must be bad news. Always go down on good news. Ruff report will give us an indepth on the last PR and just might very well give answers that show the positively I see.
Wow everyone hates this move yet no one is selling. Monday morning QB's. Gotta love it.
This board has the most knowledgeable people who know SHWZ and have nothing positive to say and only point out their negatives and see no positives really is not being open minded.
Dye and his capital firm have way to much money involved period. Millions upon millions. If you had faith in him before it makes no sense to think he would do anything to hurt his investment
My thoughts in Doc's comment about the $800k for CEO and Dye himself. Just maybe it will be a very slow process filling the Pfesident and Dye's new position will help offset the$900k for the 3yrs.
PS. Follow the money! The questions you have asked are good ones no doubt but certainly trust is a factor. GLTY.